It added: "Both men have worked tirelessly to bring playing success to the club and it is with regret of all parties that this has not resulted in better results."

Youth-team coach and former long-serving Lincoln defender Grant Brown has been placed in temporary charge until the club appoints a new manager.

Former City midfielder Schofield, 42, who signed a new three-year contract as manager in the summer, said: "Leaving the club this way is disappointing in view of the desire and vision the club and I shared."